Payroll Tax Chapter 6 Exam -Questions with Correct Answers/ Latest Version (2024/2025)/ 100% Pass
7 views 0 purchase
Course
Payroll
Institution
Payroll
1. An employee's marital status and number of withholding allowances never appear on the
payroll register.
a. True
b. False - ANSWER: False
2. Companies usually provide a separate column in the payroll register to record the
employer's payroll taxes.
a. True
b. False - ANSWER: False
3. An e...
Payroll Tax C hapter 6 Exam -Questions with Correct Answers/ Latest Version (2024/2025) / 100% Pass 1. An employee's marital status and number of withholding allowances never appear on the payroll register. a. True b. False - ✔✔ANSWER: False 2. Companies usually prov ide a separate column in the payroll register to record the employer's payroll taxes. a. True b. False - ✔✔ANSWER: False 3. An employer will use the payroll register to keep track of an employee's accumulated wages. a. True b. False - ✔✔ANSWER: False 4. In order to prepare Forms W -2, an employer would utilize the employee's earnings record. a. True b. False - ✔✔ANSWER: True 5. Once the journal entry for the payroll is complete, the information is posted to the appropriate general ledger accounts. a. True b. False - ✔✔ANSWER: True 6. Deductions from gross pay in the payroll register are reflected on the credit side of the journal entry to record the payroll. a. True b. False - ✔✔ANSWER: True 7. If wages are paid weekly, postings to the employee 's earnings record would be done once a month. a. True b. False - ✔✔ANSWER: False 8. Each payday, the total of net pays that the employer incurs is the wage expense that must be debited. a. True b. False - ✔✔ANSWER: False 9. Tax withholdings from emp loyees' pays reduce the amount of the debit to Salary Expense in the payroll entry. a. True b. False - ✔✔ANSWER: False 10. The wage and salaries expense account is an operating expense account debited for total net pay each payroll period. a. True b. False - ✔✔ANSWER: False 11. FIT Payable is a liability account used to record employees' withheld federal income tax and also the employer's match of that tax. a. True b. False - ✔✔ANSWER: False 12. A debit to the employees FIT payable account remo ves the liability for the amount of federal income taxes withheld from employees' wages. a. True
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller MikeHarris. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
